Turkmen budget revenues executed at 120 percent

Turkmenistan, Ashgabat, July 9 / Trend H.Hasanov /

The Turkmen state budget revenues for the first six months in 2012 were executed at 120.5 percent, the Turkmen Finance Ministry said on Monday.

It was previously reported that Turkmen Parliament approved the law on "Turkmen State Budget for 2012". The revenue of the state budget of 2012 was 74.908.4 billion manat, expenses - 76.398.4 billion manat.

According to the forecasts, budget revenues will exceed the previous figure due to higher rates of economic growth, investment activity, the modernisation of material-technical base of industries, the widespread introduction of highly advanced technologies in the production.

The revenues are formed by such important sectors of industrial areas as oil and gas, chemical, power engineering, construction. The agroindustrial complex, transport and communication sector, textile and food industries will be further developed.

The revenues are planned to be increased by developing and stimulating the activity of the private enterprises.

The significant investments will be spent to implement large-scale national projects, including the construction of new facilities of the national tourist zone of Avaza, the implementation of urban development program in the capital and provinces of the country, the construction of important social and cultural facilities, industrial and transport-communications infrastructure.

The Finance Ministry also reported that the protected articles of the state budget, in particular wages, pensions, state benefits and student scholarships have been fully financed in a timely manner since early 2012.

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